Introduction to Insurance
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Last updated over 1 year ago
10 questions
Required
1
Match the vocabulary words with their definitions
Match the vocabulary words with their definitions
| Draggable item | arrow_right_alt | Corresponding Item |
|---|---|---|
Limit | arrow_right_alt | Asking the insurance company for money for your loss/damage/bill |
Claim | arrow_right_alt | The specific insurance plan you chose |
Policy | arrow_right_alt | How much you pay before insurance pays the rest |
Premium | arrow_right_alt | The maximum amount insurance will cover |
Deductible | arrow_right_alt | The price of your insurance policy |
Required
1
How does an insurance company determine your premium?
How does an insurance company determine your premium?
Required
1
Typically, as the premium increases, the deductible _______________.
Typically, as the premium increases, the deductible _______________.
Required
1
Suppose someone pays $79 premium per month for health insurance which has a $200 deductible and covers up to $10,000.
Part A: How much will you pay a year in health insurance?
Suppose someone pays $79 premium per month for health insurance which has a $200 deductible and covers up to $10,000.
Part A: How much will you pay a year in health insurance?
Required
1
Suppose someone pays $79 premium per month for health insurance which has a $200 deductible and covers up to $10,000.
Part B: Unfortunately you have a sore throat and have to go into the doctor. The doctor bill turns out to be $250 after a few tests were run. How much will you have to pay before insurance kicks in?
Suppose someone pays $79 premium per month for health insurance which has a $200 deductible and covers up to $10,000.
Part B: Unfortunately you have a sore throat and have to go into the doctor. The doctor bill turns out to be $250 after a few tests were run. How much will you have to pay before insurance kicks in?
Required
1
Suppose someone pays $79 premium per month for health insurance which has a $200 deductible and covers up to $10,000.
Part C: Unfortunately you have a sore throat and have to go into the doctor. The doctor bill turns out to be $250 after a few tests were run. How much will insurance pay?
Suppose someone pays $79 premium per month for health insurance which has a $200 deductible and covers up to $10,000.
Part C: Unfortunately you have a sore throat and have to go into the doctor. The doctor bill turns out to be $250 after a few tests were run. How much will insurance pay?
1
How much is your yearly health insurance if your monthly premium is $120?
How much is your yearly health insurance if your monthly premium is $120?
1
Health insurance premiums are known to increase by 50% for smokers(tobacco and nicotine). Suppose someone's monthly health insurance is $120. The insurance company finds out you smoke(https://healthcareinsider.com/health-insurance-smokers-42747) and therefore raises your rate by 50%. How much is your new health insurance premium?
HINT! Determine 50% by $120 * 0.50Then, add that answer to $120.
Health insurance premiums are known to increase by 50% for smokers(tobacco and nicotine). Suppose someone's monthly health insurance is $120. The insurance company finds out you smoke(https://healthcareinsider.com/health-insurance-smokers-42747) and therefore raises your rate by 50%. How much is your new health insurance premium?
HINT! Determine 50% by $120 * 0.50
Then, add that answer to $120.
1
How much is your yearly health insurance if you pay 180 a month?
How much is your yearly health insurance if you pay 180 a month?
Required
1
How much more do you pay a year because of the premium increase?(Hint: You will use the premium amounts you calculated in #7 and #9)
How much more do you pay a year because of the premium increase?
(Hint: You will use the premium amounts you calculated in #7 and #9)